More Crypto Crackdown Coming? Treasury To Deliver Congressional Hearing In Quest To Fight Illicit Financing
Portfolio Pulse from Mehab Qureshi
The U.S. Treasury is set to address Congress about cryptocurrency's role in illicit finance, seeking more authority to tackle the issue. Brian Nelson will highlight the illegal use of cryptocurrencies and the need for additional tools to combat such activities. This comes amid legislative efforts to address crypto's role in money laundering and terrorism financing, including proposed bills by Sen. Elizabeth Warren and Sen. Sherrod Brown. The hearing follows the Treasury's 2024 National Risk Assessments, emphasizing the risks of illicit finance, including crypto use.
February 14, 2024 | 7:26 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The U.S. Treasury's upcoming congressional hearing on cryptocurrency's role in illicit finance could impact Bitcoin's perception and regulatory landscape.
The Treasury's focus on the illegal use of cryptocurrencies, including Bitcoin, and the call for more authority to combat such activities could lead to stricter regulations. This, in turn, may affect Bitcoin's market perception negatively in the short term, as investors may become cautious about potential regulatory crackdowns.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 80